FAQ’s

Frequently Asked Questions

Maybe you have a few questions. That’s okay; most people do. So here’s a quick collection of some of the questions people ask us… along with our answers. If you still have a question, don’t hesitate to contact us (or give us a call) and we’ll be happy to answer it for you.

  • Rent to own is a contractual agreement where the tenant has the option to purchase the property they are renting after a certain period of time, usually a few years, with a portion of their rent being applied towards the eventual purchase price.

  • Rent to own typically involves signing a lease agreement that includes an option to purchase the property at a later date. The tenant pays an option fee upfront, typically around 5-10% of the purchase price, which gives them the exclusive right to buy the property during the option period. During the option period, the tenant pays rent, some of which may be credited towards the eventual purchase price.

  • Rent to own can be a good idea for people who are not able to obtain traditional financing or who need time to save up for a down payment. However, it can also be risky, as the tenant may end up paying more in rent than the property is worth, or may be unable to secure financing to purchase the property at the end of the option period.

  • The option period in rent to own agreements can vary, but it is typically between one and five years (extensions can apply up to 30 years)

  • In most cases, the tenant is responsible for maintenance and repairs during the rental period.

  • The purchase price is typically agreed upon at the beginning of the lease agreement and is based on the fair market value of the property at that time.

  • The tenant usually has the option to back out of the agreement before the option period expires. However, they may forfeit their option fee and any rent credits that were applied towards the purchase price.

  • If the tenant cannot obtain financing to purchase the property at the end of the option period, the lease agreement typically ends and the tenant may lose any option fees or rent credits that were applied towards the purchase price.

  • In most cases, the landlord cannot sell the property to someone else during the option period, as the tenant has an exclusive right to purchase the property during that time.

  • The purchase price is typically set at the beginning of the rental period, so any changes in the home's value will not affect the purchase price. However, if the home's value decreases significantly, the buyer may choose not to purchase the home at the end of the rental term.

Get Your No Obligation Offer in 24 Hours or Less!

Give us a call at +1 856-345-1803 or fill out our form to get started.

Get My Offer

The Home Bridge Home Selling Solution.

Why have other homeowners like you sold their house to Home Bridge Solutions?

Bridge Home Solutions

  • ✔ Zero Fees to Sell Your House
  • ✔ Highest Off-Market Price
  • ✔ Sell As-Is. No Cleanup. No Repairs.
  • ✔ Close In As Little As 7 Days
  • ✔ No Closing Costs

Traditional Process

  • ✖ Pay 6% Plus Other Fees
  • ✖ Unpredictable Offers
  • ✖ Cleanup and Repair Stress
  • ✖ Showings and Open Houses
  • ✖ Long Sales Prices, Often 2–3+ Months